We have finalized our CFIA approval!

I was able to visit this site last month, and I am very happy with the progress. It’s going to be incredible to see this project finally come to life. We finally got our CFIA approval finalized last month. That has allowed me to take a sigh of relief as that was the last remaining item that could have required me to delay our infrastructure. 

A few weeks ago, I was celebrating selling a couple of lots. We had negotiated a price for weeks with two builders in the area and had sent them a signed contract. We were very surprised when neither of them finalized the purchase agreement. Instead, they waited so long that the contracts became void. 

This week my friend also decided not to purchase the lots that I offered last month. 

In terms of liquidity, I’m back to square 1. Finishing my infrastructure is going to cost me an additional 2.5 million (I’m tabling amantities for now) beyond what I’ve already put into the project. I have 1 million myself that I have set aside to lend to the project. 

I’m down to needing 1.5 million to finish the infrastructure. We believe it will be 1000x easier to sell lots or homes once we finally have the infrastructure finished. 

The problem we’ve run into is that there is a precedent set in Costa Rica that people will start projects and not finish them, and so there is a fear around purchasing anything until it’s all done. 

We will be looking to pull a permit on a model home in the next few weeks. We are still trying to decide on the details of the first home we will build.

If anyone wants to get a home at cost and rent it back as a model, let me know. 

We got our custom lids this week!